Archives for posts with tag: student loans

Big news since the last post: I PAID OFF THE STUDENT LOAN!

$161,560.02 total. The original principal was just over $100,000 however the forbearance and recapitalized interest increased the principal to just over $124,000. Still, I saved over $70,000 by paying the loan off ahead of schedule.

Combined with the $20,000 in consumer debt and $7900 in car loan, I have paid a grand total of $190,501 in six years. $31,750 per year, on average.

And since paying off credit debt was annoying and paying interest on purchases even more annoying, I have carried a 0 balance on credit cards since 2009.



Today I was putting the numbers in excel to determine if this is the week I finish paying off my student loans. What started as $110,000 and grew to a payment total of $160,000 is now down to $2275. I have an itchy trigger finger that really wants to go to Nelnet and finish it. However I need to be cautious, there are some other big bills coming up that must be paid and I have to see if my classes are a definite go before I can celebrate the loans.